Marks & Spencer sales slip as clothing continues to stall

Meanwhile, food like-for-likes stayed flat in the first quarter, showing a marginal 0.1 per cent dip.

Clothing sales of £852.1m were down by 1.2% LFL, while food sales were down by 0.1% LFL but up by 4.5% in total. He also argued that the overall United Kingdom clothing market was more promotional than a year ago, which is hurting M&S, however he seemed confident that like-for-like clothing sales should move into positive territory later this year.

M&S previously said it plans to reduce space devoting to clothing and home products by about 1% to 2% in the current financial year and increase food space by around 7%.

Part of the fall came as it opened Simply Food stores near existing shops, which impacted some sales, while the group also cut back on promotions.

Liberum was also upbeat, saying it expects the company's restructuring will eventually bear fruit. "We believe this will continue to put pressure on profitability".

Chief executive Steve Rowe said trading in the first quarter was "in line with expectations" and the company is "on track with delivery of the plan announced last year". Analysts are blaming the fact that Rowe's plan means that there is no clearance sale at M&S these days, which is hitting sales, also some are questioning whether his plan is not only too expensive, but it doesn't go far enough since he is only planning to close 53 stores nationwide. In line with our strategy, full price sales were up c.7%, as we reduced the number of promotions and there was no clearance sale in the quarter compared with one previous year.

There was a need for "stronger promotions", he said, adding that the performance of stores was also being affected by expansion as new M&S food outlets sprung up on their doorstep.

The immediate market reaction has been to sell M&S shares on the back of this news, and the share price continues to linger below the 20-day moving average, which is a bearish sign. "The unexpected drop in sales for their sturdy food division could also be one of the catalysts that has got traders spooked".

Nigeria and Libya were exempt from the production cut deal at OPEC's meeting on May 25, 2017, due to internal political unrest. West Texas Intermediate crude oil for August delivery traded down about 1% at $43.95 early Tuesday morning.

Geraint Thomas was sitting in a Sky team vehicle , his shoulder wrapped in gauze, wondering if his 2017 season is cursed. In addition, Australian Richie Porte's Tour came to an end after he suffered a heavy crash on a descent.

Speaking Monday morning, MTA chairman Joseph Lhota said, so far, "everything has been on time" and "working according to plan". Instead, the most noticeable inconvenience that Boston-based users of Penn Station might notice is more crowded Amtrak trains.

By end of day Sunday, the DC-Warner Bros. property will add another $10 million to its $720 million worldwide total. Acclaimed action-musical Baby Driver , starring Ansel Elgort and Jon Hamm, parked in third with $12.8 million.

The Indian envoy was told that "deliberate" targeting of civilians was condemnable and contrary to global human rights and laws. FO South Asia Director General Dr Faisal presented charge-sheet to the deputy high commissioner today.

Azarenka is not playing at an overwhelmingly dominant level. "I didn't talk much about that subject with her", Halep said. As for getting through to the second week for the first time, Garcia said: "It's an important step".

Nate Darling scored 12 points for Canada as it defeated Italy 79-60 in the final of the U19 World Cup in Cairo, Egypt on Sunday. In the fall, Rana and Henry will try to lead Ryerson to the team's third straight Ontario University Athletics title.

The fire near Highway 166 was only 10 percent contained till Saturday morning, the Santa Barbara County officials said on Twitter. Cal Fire also battled the Tower Blaze that started Friday on the Cuesta Grade north of San Luis Obispo before being contained.

Siegel said the baby was in discomfort, and while the treatment won't bring about a cure, it could potentially extend his life. Judge Nicholas Francis gave the couple until Wednesday afternoon to present the evidence and set a new hearing for Thursday.

Even those people who drank less coffee - anywhere from one to six cups of coffee per week - were 12 percent less likely to die . Most previous studies on the effects of coffee on longevity have focused on people of European descent.

He told the Commons Treasury Select Committee that American competitors such as Boeing would be "delighted" if that happened.

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